Form 4: Director John Cook Boosts SNFCA Stake via Option Exercise
Insider Transaction Report
Security National Financial Corp. Director John L. Cook acquired additional Class A Common Stock through option exercises and received new restricted stock unit grants.
Summary
- John L. Cook, a Director of Security National Financial Corp. (SNFCA), acquired 627 shares of Class A Common Stock on January 2, 2026, at an exercise price of $13.08 per share.
- He further acquired 4,678 shares of Class A Common Stock on January 7, 2026, at an exercise price of $8.54 per share.
- These acquisitions were made through the exercise of derivative securities, as indicated by transaction code 'M'.
- Following these transactions, Cook directly beneficially owns 23,905 shares of Class A Common Stock.
- The filing also details the grant of Restricted Stock Units (RSUs) and Director Stock Options, many of which have been adjusted for anti-dilution due to stock dividends.
- A grant of 627 Restricted Stock Units was made on December 6, 2024, at a price of $13.08 per share, vesting on April 1, 2025, and fully vesting by December 31, 2025.
- Another grant of 2,461 Restricted Stock Units was made on December 5, 2025, at a price of $8.53 per share, vesting quarterly and fully by December 31, 2026.
- All reported transactions were made pursuant to a Rule 10b5-1(c) plan.
Sentiment
Score: 6
Explanation: The filing indicates a director is increasing their direct ownership in the company through option exercises and receiving new equity grants, which can be interpreted as a sign of confidence. The transactions were pre-planned under Rule 10b5-1, suggesting routine compensation activity rather than a discretionary market purchase based on new material information.
Positives
- A director increasing their direct ownership stake can signal confidence in the company's future prospects.
- The exercise of options at various prices indicates the director is realizing value from previously granted equity incentives.
- The existence of anti-dilution provisions in the stock option plans protects the value of director equity holdings against stock dividends.
Future Outlook
The filing primarily reports past and current transactions and grants, with future vesting and expiration dates for equity awards. It does not contain forward-looking statements about company performance or strategy.
Industry Context
This filing details an individual director's equity activity within Security National Financial Corp. and does not provide broader industry context or trends.
Related Party Transactions
- The acquisition of Class A Common Stock by Director John L. Cook through option exercises and the grant of Restricted Stock Units and Director Stock Options are related party transactions as they involve a company insider and the issuer.
Stakeholder Impact
- Shareholders: Increased director ownership may signal confidence, potentially viewed positively. The anti-dilution provisions protect the value of equity awards against stock dividends, which is beneficial for option holders.
Next Steps
- The Restricted Stock Units granted on December 5, 2025, will vest quarterly and be fully vested by December 31, 2026.
- Various Director Stock Options have future expiration dates, with the latest being December 1, 2033.
Key Dates
| Date | Description |
|---|---|
| 12/02/2016 | Grant date for a Director Stock Option (original 5,000 shares at $7.03). |
| 12/07/2016 | Grant date for a Director Stock Option (original 1,000 shares at $7.36). |
| 02/03/2017 | 5% stock dividend paid (relevant for options granted 12/02/2016, 12/07/2016). |
| 03/02/2017 | Date exercisable for a Director Stock Option granted 12/02/2016. |
| 03/07/2017 | Date exercisable for a Director Stock Option granted 12/07/2016. |
| 12/01/2017 | Grant date for a Director Stock Option (original 1,000 shares at $5.05). |
| 02/02/2018 | 5% stock dividend paid (relevant for options granted 12/02/2016, 12/07/2016, 12/01/2017). |
| 03/01/2018 | Date exercisable for a Director Stock Option granted 12/01/2017. |
| 11/30/2018 | Grant date for a Director Stock Option (original 5,000 shares at $5.52). |
| 02/01/2019 | 5% stock dividend paid (relevant for options granted 12/02/2016, 12/07/2016, 12/01/2017, 11/30/2018). |
| 02/28/2019 | Date exercisable for a Director Stock Option granted 11/30/2018. |
| 12/06/2019 | Grant date for a Director Stock Option (original 5,000 shares at $5.46). |
| 02/07/2020 | 5% stock dividend paid (relevant for options granted 12/02/2016, 12/07/2016, 12/01/2017, 11/30/2018, 12/06/2019, 03/27/2020). |
| 03/06/2020 | Date exercisable for a Director Stock Option granted 12/06/2019. |
| 03/27/2020 | Grant date for a Director Stock Option (original 2,500 shares at $3.76). |
| 06/27/2020 | Date exercisable for a Director Stock Option granted 03/27/2020. |
| 07/17/2020 | 2.5% stock dividend paid (relevant for options granted 12/02/2016, 12/07/2016, 12/01/2017, 11/30/2018, 12/06/2019, 03/27/2020). |
| 07/16/2021 | 5% stock dividend paid (relevant for options granted 12/02/2016, 12/07/2016, 12/01/2017, 11/30/2018, 12/06/2019, 03/27/2020). |
| 12/03/2021 | Grant date for a Director Stock Option (original 6,000 shares at $8.62). |
| 03/03/2022 | Date exercisable for a Director Stock Option granted 12/03/2021. |
| 07/08/2022 | 5% stock dividend paid (relevant for options granted 12/02/2016, 12/07/2016, 12/01/2017, 11/30/2018, 12/06/2019, 03/27/2020, 12/03/2021). |
| 12/02/2022 | Grant date for a Director Stock Option (original 7,000 shares at $6.48). |
| 03/02/2023 | Date exercisable for a Director Stock Option granted 12/02/2022. |
| 07/14/2023 | 5% stock dividend paid (relevant for options granted 12/02/2016, 12/07/2016, 12/01/2017, 11/30/2018, 12/06/2019, 03/27/2020, 12/03/2021, 12/02/2022). |
| 12/01/2023 | Grant date for a Director Stock Option (original 8,000 shares at $7.99). |
| 03/01/2024 | Date exercisable for a Director Stock Option granted 12/01/2023. |
| 07/12/2024 | 5% stock dividend paid (relevant for options granted 12/02/2016, 12/07/2016, 12/01/2017, 11/30/2018, 12/06/2019, 03/27/2020, 12/03/2021, 12/02/2022, 12/01/2023). |
| 12/06/2024 | Grant date for Restricted Stock Units (2,509 shares at $13.08). |
| 04/01/2025 | Vesting start date for RSUs granted 12/06/2024. |
| 07/18/2025 | 5% stock dividend paid (relevant for all options and RSUs). |
| 12/31/2025 | Expiration date for RSUs granted 12/06/2024. |
| 12/05/2025 | Grant date for Restricted Stock Units (2,461 shares at $8.53). |
| 01/02/2026 | Transaction date for acquisition of 627 Class A Common Stock. |
| 01/07/2026 | Transaction date for acquisition of 4,678 Class A Common Stock. |
| 01/08/2026 | Signature date of reporting person. |
| 04/01/2026 | Vesting start date for RSUs granted 12/05/2025. |
| 12/02/2026 | Expiration date for Director Stock Option granted 12/02/2016. |
| 12/07/2026 | Expiration date for Director Stock Option granted 12/07/2016. |
| 12/31/2026 | Full vesting date for RSUs granted 12/05/2025. |
| 12/01/2027 | Expiration date for Director Stock Option granted 12/01/2017. |
| 11/30/2028 | Expiration date for Director Stock Option granted 11/30/2018. |
| 03/27/2030 | Expiration date for Director Stock Option granted 12/06/2019 and 03/27/2020. |
| 12/03/2031 | Expiration date for Director Stock Option granted 12/03/2021. |
| 12/02/2032 | Expiration date for Director Stock Option granted 12/02/2022. |
| 12/01/2033 | Expiration date for Director Stock Option granted 12/01/2023. |
Recommendation
holdThis Form 4 filing details routine insider transactions related to equity compensation and pre-planned option exercises by a director. While insider buying can be a positive signal, these transactions are part of a compensation structure and a Rule 10b5-1 plan, rather than a discretionary market purchase based on new material information. Therefore, it does not provide sufficient new information to warrant a change in investment recommendation, suggesting a 'hold' position is appropriate based solely on this filing.
Keywords
Security National Financial Corp, SNFCA, John L. Cook, Director, Insider Trading, Form 4, Stock Options, Restricted Stock Units, Equity Incentive Plan, Stock Acquisition, Beneficial Ownership, Rule 10b5-1
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